Negativity!

[Ed]

I submitted a post last week - New Appraiser Trainee "Hopefully". I'm trying to figure out why the negativity from Appraisers.

Long hours, uncertainty, "Balloon will Bust", falling profession, the ship is sinking, if I had to do it agian I would not and other comments I've heard in the past makes me wonder why are you still in the profession. If it's so bad GET OUT! Why put up with the pressure.

I don't understand how anyone goes on day by day wondering and pondering about their work. I'm approaching this as careful and cautious as I know how. I'm doing it becasue I feel I have a passion for it. I've been in the Real Estate businees for a while now and never talked to as many Blah...Blah... people as Appraisers.

The Certified Appraiser I'm going to work for LOVES his job. His wife doesn't work and takes care of the kids. He tell's me every day "I can't imagine doing anything else as a profession". He lives this stuff. That's my fuel.

If the bottom falls out. Mortgage Brokers, Mortgage Underwritters, Originators, Real Estate Agents, Home Inspectors ect..ect.. will on the streets too.

I'm a firm believer that only you can change your life. So do something about it.

 

[Ray Ohler]

it all depends on how much BS you've seen over the last few years. I've been in the real estate business 22 years now. Started selling in 1980 and got my broker's license (had to have one in PA to do appraisals prior to the certification act) in 1986 and have done strictly appraising since then (uh-oh, I sold two houses since 1986 - 1 to a friend and listed my sister's house). BS ALWAYS went on in the real estate business, I worked with the best of the worst (although I didn't personally get involved in the scams I've seen - I just watched, nobody believes that, #$%& them) but not to the extent that it is now (and I am not getting old, I just don't shaft people for a living, especially people I don't know). The outright fraud is absolutely RAMPANT but it is slowing down some since quite a few people are paying somewhat hefty fines and doing some jail time and buying back some "toilet paper" they helped wrap around the roll. All the while, you see some "peers" buying $300,000 houses and driving new BMW's (the BIG one) and going to the shore every weekend during the summer. THAT is not negativity OR envy. I have nothing against $300,000 houses and BMW's OR the shore, BUT when you see some of the crap they are cranking out you realize that you (not you personally but a lot of appraisers) cannot compete with those that have ran this business into the proverbial s******. The main reason more are not getting caught is because there are so many doing it. You try to do the job as ethically and professionally as possible. However, when one thinks about it (everybody has bad days), and you get that feeling in your stomach (like somersaults), it is a little hard to say "this is a wonderful career" AND you start to wonder just WHO is asking the question, I even suspect my mother at this point. :twisted:
But, when all is said and done you STILL try to do the best job you can do and figure well......I always went by "what goes around, eventually comes around" - these days it's just taking a LONG time to come around. So, in conclusion, if you are getting into the field of appraising to make
mega-bucks in a relatively quick period of time you are probably going to be disappointed OR you'll be walking around with a mattress strapped to your back. Sorry this post got a little long-winded and may "appear" negative but YOU asked. I read this at a "strange" time, I just got in a little while ago, an appraiser friend asked me to ride past this property with her because a mortgage broker officer called her today and asked her to "scope" it. Now, this IS a close personal friend, needless to say he "indicated" that they need "X" to get a cash out refi and quoted the borrowers a fee. She was having a problem finding comps for "X". Also, the physical characteristics of the property indicated that the fee would have to be AT LEAST DOUBLE what he quoted them and in all likelihood, the value would fall FAR short of what they "needed". If I just did an appraisal, $%^*( it, let the state CITE me, among other things. She agreed that the fee was WAY TOO LOW and that the property was probably worth nowhere near what they "need" (cite her too). Then, she spent the next 20 minutes wondering what she should do, in my observation "leaning" towards taking the assignment because the mortgage broker said "search the ENTIRE city for "comps". I told her EXACTLY what I thought. SHE asked. Negativity, NO, plain frustration. However, tomorrow I'll get a request in and DO THE BEST POSSIBLE, ETHICAL, PROFESSIONAL job that I can. Whew, long post.

 

[Larry Lyke]

Ed --

Most of us are happy, fat and rich and don't want the field to get crowded to the point where we have to share the largesse with anybody else.

I too can't imagine having been given such a wonderful career. Oh yeah, you might say I earned it, BUT I'm much more of the feeling that most people get what they deserve.

All you got to do is help it along a little.

Best o'luck to you. If we can help you, come back and say so. Or at least, Hello.

 

[Dee Dee]

Ed,
No offense, but when I was a rookie I felt exactly the same way that you do now. :wink:
All of the classes in the world don't prepare you for the details involved in being a good appraiser. Nothing prepares you for having to deal with the continuous pounding from homeowners and lenders to bend your ethics and drop your fees. You'll quickly learn that when you're on a commission and still learning that you're going to be putting in long hours to pay the bills. I remember sitting down with my little calculator and figuring out that if I did X number of appraisals per week I would be making big bucks in no time at all. I'll bet you've already done the same thing. What I didn't factor in was that I was just a newbie and that it was going to take a lot longer to get up to speed than I had anticipated.
Sure, you can make a decent living being an appraiser, but you WILL pay your dues. I haven't met an appraiser yet who didn't start out optimistic and quickly figure out that the job was MUCH more difficult than they had anticipated. Having happy mentors is a great start, but you'll have your bad days even when you have them there to buffer the blows.
Please, make sure to drop into the forum to discuss any problems or successes you have as you embark on your new career. Sometimes it looks like we're all a bunch of complainers, but the truth is that this forum is an incredible sounding board for a profession where very few people give a hoot about what your problems are.
Best of luck,
Dee Dee

 

[Blue1]

Ed,

It never fails that no matter what you want to do, there are nay sayers that will try to convince you not to do it. Don't be discouraged. If you want to have an appraisal career you can do it. Just like any other avocation, you will experience a learning curve. Use this "learning curve" as an opportunity to advance yourself in the profession. Seek advice from other ethical professionals (this forum is an excellent source) and stay optimistic. You are lucky to have a mentor that loves his job, mine hated it and hated his clients. He's no longer in the business and I have a thriving business, I have more work than I can handle and more coming in. My biggest problem is turning work down. Good luck, keep the faith and above all, be ethical.

 

[slacker]

Ed,

Every big business started as a small one. Keep your expectations in check and you will be very satisfied. Everyone has different goals and expectations in this profession. Me? I kept my corporate day job that pays all the bills,insurance, and the 401k. I try to do 2 appraisals a week for my fun money. I spend less time on 2 appraisals a week than most people spend watching TV when they get home from work. Oh yeah, I always have the nicest car on the block too.


"Keep away from those who try to belittle your ambitions. Small people always do that, but the really great make you believe that you too can become great." --Mark Twain

 

[Dave Smith]

Ed:

I don't think we are negative so much as realistic. We catch heat from almost every direction. The LO, the UW, the Realtor, the buyer, the seller, etc. Everybody is sniping at us like we were a thief in the night. They all want a different number, or different comps, or different words, or a shorter turn around time, or a lower fee, or more addendums, or less addendums, or better comps, etc.

Very few of those people care about USPAP or appraisal guidelines, or your license. All they want is THEIR number, at their price, on their time table.

Be prepared to be strong in your professional convictions and knowledgeable about thr right way to do your job.

It can be and is a rewarding profession but some times even the strongest ones of us wonder why we do what we do. You asked a question and we are giving you the truth as we see it. That is what appraisers do.

Good luck.

 

[Ed]

Home for lunch, thought I'd log in. Thanks again for all the advice, concerns and information. I really APPRECIATE it.

I'm also greatful I have a Forum like this to refer to. I'm getting one mans point of view (my mentor) so it's nice to hear from others in the industry, good or bad. It puts into perspective for me.

Keep the replies coming. I'm hungry, so good bye for now. I'll log back in tonight.

 

[Dale Smalley]

It is just a job. Do it if you like the work. You will learn alot about real estate that might take you into something bigger. You wont get rich appraising but you can make a decent living. The trainee / slave part is really tough but if you can get through that it will be allright. The negativity is for those not willing to change and make the system beter. Appraising is a lot more than kissing some mortgage brokers *** for work.
If you are looking for advice Here is a good statement to learn when they ask the value question.
I wont know the value untill I have completed the appraisal. Will that be cash or charge? :twisted:
Good Luck

 

[Brad in SAC]

Ed

When I was thinking about entering the industry a few years ago I opened the yellow pages and and went down the list calling appraisers asking for advice and opinions. For every one appraiser who spoke with encouragement their were five who would try to talk me out of it. So, I was'nt sure about it until I got laid off from my previous job and then I went full speed ahead, got licensed and now I've been doing this for almost two years. To this day, I still do not understand why their was so much discouragement given. All six appraisers I work with love it and I'm just upset I did'nt get started sooner. Sure their are plenty of things about appraising that are undesireable, but I love it, I love going into peoples homes and talking to them, I love observing the real estate market, I love being out on the street, and I love making my own schedule even though I do work a lot. Good luck.